The Car Payment Thread Vol. Next time I'm buying Used..

[al audi]

Originally Posted by RunningoftheCarmines

Btw, $565/mnth out of my own pocket for 09 Altima, 2 more years to go.  I'm still in college and I go to work part-time.

smh

36 months correct? i would never buy a altima/camry/accord brand spanking new, you gotta be kidding me.

 

[al audi]

Originally Posted by RunningoftheCarmines

Btw, $565/mnth out of my own pocket for 09 Altima, 2 more years to go.  I'm still in college and I go to work part-time.

smh

36 months correct? i would never buy a altima/camry/accord brand spanking new, you gotta be kidding me.

 

[runningofthecarmines]

Originally Posted by Al Audi

Originally Posted by RunningoftheCarmines

Btw, $565/mnth out of my own pocket for 09 Altima, 2 more years to go.  I'm still in college and I go to work part-time.

smh

36 months correct? i would never buy a altima/camry/accord brand spanking new, you gotta be kidding me.

Correct.  Well do you my man

 

[runningofthecarmines]

Originally Posted by Al Audi

Originally Posted by RunningoftheCarmines

Btw, $565/mnth out of my own pocket for 09 Altima, 2 more years to go.  I'm still in college and I go to work part-time.

smh

36 months correct? i would never buy a altima/camry/accord brand spanking new, you gotta be kidding me.

Correct.  Well do you my man

 

[k town trash]

Originally Posted by hieu23

having parents that pay for your brand new car and insurance FTW

 parents getting me 2011 honda accord EX FTW 

 

[k town trash]

Originally Posted by hieu23

having parents that pay for your brand new car and insurance FTW

 parents getting me 2011 honda accord EX FTW 

 

[dajondondo]

2008 Lexus IS350
$359.00/month

 

[dajondondo]

2008 Lexus IS350
$359.00/month

 

[recycledpaper]

Originally Posted by marion706

Originally Posted by recycledpaper

$701 a month for a 2008 328 coupe.

0.9% interest so meh.

right on me to

*e-dap*

on a side note, i heard that paying off a house (paying off the mortgage) is actually a bad idea? something about writing off the interest and some tax you have to pay with a paid-off mortgage.

someone please correct me if i'm wrong or educate me. i will be looking into buying property in the near future (next 2 years). TIA

 

[recycledpaper]

Originally Posted by marion706

Originally Posted by recycledpaper

$701 a month for a 2008 328 coupe.

0.9% interest so meh.

right on me to

*e-dap*

on a side note, i heard that paying off a house (paying off the mortgage) is actually a bad idea? something about writing off the interest and some tax you have to pay with a paid-off mortgage.

someone please correct me if i'm wrong or educate me. i will be looking into buying property in the near future (next 2 years). TIA

 

[wawaweewa]

Originally Posted by ooIRON MANoo

Originally Posted by cguy610

Originally Posted by ooIRON MANoo

If you don't have your car paid off what are the chances you will have a house paid off?

Chances are if you have the money to pay a car cash, then that person should have a decent "rainy day" fund.

When I say "own", I don't mean the house is paid off.  So if something were to happen, you can use that extra cash to protect your asset(your home) and stop making payments on the car. 

I doubt many people have money to buy a car in cash and have a decent "rainy day" fund.  Unless you mean buying a car for like $5 grand or something.  I'm thinking along the lines of the average price of a new car, which is between $20,000-$30,000.

I personally like the idea of having extra cash just in case. 

Unless they came up with the cash through a different circumstance other than saving (settlement, lottery, gambling, bonus, etc.), then a person can most certainly have a rainy day fund and still have enough cash accumulated to buy a car without financing a dime.

The price for new cars range from $12,000-$18,000, anything above that you are buying a luxury car or a fully loaded entry level vehicle.  Even with the price range you listed, it is still attainable.

People are just awful at saving and budgeting.  I like having extra cash around as well, but it's capped at $10k (Savings account + cash in a secured safe).  The rest of my savings are in seperate accounts (Savings/Investments/Retirement/House fund/Car fund/Vacation fund).

If you can't set aside a "rainy day" fund then you don't have any business buying a $20,000-$30,000 import.

It depends what you view as a rainy day fund.  I certainly don't view 10k as a rainy day fund. @$%!, 50k isn't even a rainy day fund. Considering a rainy day fund is when @$%! hits the fan in your life, then it's better to have more than less.

If you're going to buy a car cash, then it's prob better that it not be more than a quarter of your liquid assets.

btw, this thread reminded me of this article that I read today.

Americans Buy IPads While Broke in New Abnormal Economy

 

[wawaweewa]

Originally Posted by ooIRON MANoo

Originally Posted by cguy610

Originally Posted by ooIRON MANoo

If you don't have your car paid off what are the chances you will have a house paid off?

Chances are if you have the money to pay a car cash, then that person should have a decent "rainy day" fund.

When I say "own", I don't mean the house is paid off.  So if something were to happen, you can use that extra cash to protect your asset(your home) and stop making payments on the car. 

I doubt many people have money to buy a car in cash and have a decent "rainy day" fund.  Unless you mean buying a car for like $5 grand or something.  I'm thinking along the lines of the average price of a new car, which is between $20,000-$30,000.

I personally like the idea of having extra cash just in case. 

Unless they came up with the cash through a different circumstance other than saving (settlement, lottery, gambling, bonus, etc.), then a person can most certainly have a rainy day fund and still have enough cash accumulated to buy a car without financing a dime.

The price for new cars range from $12,000-$18,000, anything above that you are buying a luxury car or a fully loaded entry level vehicle.  Even with the price range you listed, it is still attainable.

People are just awful at saving and budgeting.  I like having extra cash around as well, but it's capped at $10k (Savings account + cash in a secured safe).  The rest of my savings are in seperate accounts (Savings/Investments/Retirement/House fund/Car fund/Vacation fund).

If you can't set aside a "rainy day" fund then you don't have any business buying a $20,000-$30,000 import.

It depends what you view as a rainy day fund.  I certainly don't view 10k as a rainy day fund. @$%!, 50k isn't even a rainy day fund. Considering a rainy day fund is when @$%! hits the fan in your life, then it's better to have more than less.

If you're going to buy a car cash, then it's prob better that it not be more than a quarter of your liquid assets.

btw, this thread reminded me of this article that I read today.

Americans Buy IPads While Broke in New Abnormal Economy

 

[recycledpaper]

i have a feeling some people here are posting their LEASE payments. like homie above me paying $359 for an is350. you must have either 1) paid a LOT down with a low interest rate or 2) leasing that %+@$%.

 

[recycledpaper]

i have a feeling some people here are posting their LEASE payments. like homie above me paying $359 for an is350. you must have either 1) paid a LOT down with a low interest rate or 2) leasing that %+@$%.

 

[oh you mad]

05 TSX for 7k @ a dealer auction

I wanna get a tl type s for my next car but none have showed up..

 

[oh you mad]

05 TSX for 7k @ a dealer auction

I wanna get a tl type s for my next car but none have showed up..

 

[finessesosa]

the numbers in here are ridiculous

but i know most NTers have tons of money so its 

 

[finessesosa]

the numbers in here are ridiculous

but i know most NTers have tons of money so its 

 

[north dade represent]

Man, why are people so uppity about car payments and loans?

Loans = versitility. Yeah, I could have bought a car cash only, but then I would not have had enough money to move to another city (new job didn't offer relo), buy nice clothes, and buy a house. I'm about to finish up my payments and I'm not thinking "Oh look at all the money I threw away on a car payment?"

Considering that my mortgage is 5 times my car note, I'm not that concerned with a few hundred bucks a month. Man, I've blown much more dough on road trips over the last 5 years than I have paying interest on cars.

Then you got people that always brag about how they going to drive their car till the wheels fall off, but then wanna get mad when they gotta drop a stack to get their rust bucket fixed.

 

[north dade represent]

Man, why are people so uppity about car payments and loans?

Loans = versitility. Yeah, I could have bought a car cash only, but then I would not have had enough money to move to another city (new job didn't offer relo), buy nice clothes, and buy a house. I'm about to finish up my payments and I'm not thinking "Oh look at all the money I threw away on a car payment?"

Considering that my mortgage is 5 times my car note, I'm not that concerned with a few hundred bucks a month. Man, I've blown much more dough on road trips over the last 5 years than I have paying interest on cars.

Then you got people that always brag about how they going to drive their car till the wheels fall off, but then wanna get mad when they gotta drop a stack to get their rust bucket fixed.

 

[Betonblck]

Originally Posted by recycledpaper

Originally Posted by marion706

Originally Posted by recycledpaper

$701 a month for a 2008 328 coupe.

0.9% interest so meh.

right on me to

*e-dap*

on a side note, i heard that paying off a house (paying off the mortgage) is actually a bad idea? something about writing off the interest and some tax you have to pay with a paid-off mortgage.

someone please correct me if i'm wrong or educate me. i will be looking into buying property in the near future (next 2 years). TIA

You can deduct the mortgage interest and real estate taxes when you file your income tax return.  You want to find a prepayment calculator online to run the numbers to see how much extra you should pay each month. 

I've run different scenarios for different payment amounts.  There is like a sweet spot where you can bring like a 30 year down to like 22 years without paying alot extra.  However, once you get down to like 20 years, paying the extra money to further reduce it doesn't seem worth it.

http://www.decisionaide.c...lator/ExtraPayments1.asp

 

[Betonblck]

Originally Posted by recycledpaper

Originally Posted by marion706

Originally Posted by recycledpaper

$701 a month for a 2008 328 coupe.

0.9% interest so meh.

right on me to

*e-dap*

on a side note, i heard that paying off a house (paying off the mortgage) is actually a bad idea? something about writing off the interest and some tax you have to pay with a paid-off mortgage.

someone please correct me if i'm wrong or educate me. i will be looking into buying property in the near future (next 2 years). TIA

You can deduct the mortgage interest and real estate taxes when you file your income tax return.  You want to find a prepayment calculator online to run the numbers to see how much extra you should pay each month. 

I've run different scenarios for different payment amounts.  There is like a sweet spot where you can bring like a 30 year down to like 22 years without paying alot extra.  However, once you get down to like 20 years, paying the extra money to further reduce it doesn't seem worth it.

http://www.decisionaide.c...lator/ExtraPayments1.asp

 

[Mark Antony]

Originally Posted by Oh YoU MaD

05 TSX for 7k @ a dealer auction

I wanna get a tl type s for my next car but none have showed up..

man how you get info/an in in one of these joints?

 

[Mark Antony]

Originally Posted by Oh YoU MaD

05 TSX for 7k @ a dealer auction

I wanna get a tl type s for my next car but none have showed up..

man how you get info/an in in one of these joints?

 

[kingjrmzair23]

Originally Posted by Mark Antony

Originally Posted by Oh YoU MaD

05 TSX for 7k @ a dealer auction

I wanna get a tl type s for my next car but none have showed up..

man how you get info/an in in one of these joints?

You need to have/or know someone with a dealer's license. I work at an auction as a mechanic btw. But yeah, we have a honda financial account and hondas/acuras really go for cheap.